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Use the ving to answer questions 14 - 20 Post each transaction to the T-accounts below and compute the ending balances of each account.
Use the ving to answer questions 14 - 20 Post each transaction to the T-accounts below and compute the ending balances of each account. The beginning balances are shown in the T accounts. NOTE: The accounts are only a partial listing of the company's Chart of Accounts Recorded transactions to be posted: Debit Credit Debit Credit 1 Office Supplies 120 4 Deferred revenue 5,000 Cash 120 Service revenue 5,000 2 Advertising expense 4,500 5 Accounts receivable 75,000 Accounts payable 4,500 Service revenue 75,000 3 Accounts payable 3,000 6 Cash 78,000 Cash 3,000 Accounts receivable 78,000 Following are some (not all) of the accounts for the company: Cash 10,000 Accounts Receivable 5,000 Office Supplies 150 Accounts Payable 2,000 Deferred Revenue Service Revenue Advertising Expense 6,000 0 0 14. $ What is the ending balance in the Cash account? 15. $ What is the ending balance in the Accounts Receivable account? Chapter 2 Page 2-2
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